Validus Holdings, Ltd. Appoints Romel Salam as Chief Risk Officer

  Validus Holdings, Ltd. Appoints Romel Salam as Chief Risk Officer

Business Wire

PEMBROKE, Bermuda -- March 7, 2013

Validus Holdings, Ltd. (“Validus” or the “Company”) (NYSE: VR) announced today
that Romel Salam has been promoted to Executive Vice President and Group Chief
Risk Officer, effective April 2, 2013.

Mr. Salam has nearly 25 years of industry experience, most recently serving as
the Chief Actuary and Chief Risk Officer of Validus Reinsurance, Ltd.
(“Validus Re”). Prior to joining Validus Re in 2010, Mr. Salam was a Senior
Vice President at Transatlantic Reinsurance where he spent 20 years in
positions of increasing responsibility. Mr. Salam is a Fellow of the Casualty
Actuarial Society and Member of the American Academy of Actuaries.

Mr. Salam will report to John Hendrickson, Validus’ Director of Strategy, Risk
Management and Corporate Development. Mr. Hendrickson commented on the
appointment: "I am very pleased that Romel has accepted the position of
Validus Group Chief Risk Officer. His skill set, experience and drive will
lead Validus' continued progress on critical enterprise risk management
initiatives including capital modeling and exposure management. This internal
appointment also further demonstrates Validus’ significant management depth."

Mr. Salam replaces outgoing Chief Risk Officer Stuart Mercer, one of the
original founders of Validus, who will support the Group’s ongoing strategic
initiatives.

Mr. Salam's appointment is subject to the approval of the Bermuda Department
of Immigration.

About Validus Holdings, Ltd.

Validus Holdings, Ltd. is a provider of reinsurance, insurance, and insurance
linked securities management operating through three primary segments, Validus
Reinsurance, Ltd., Talbot Holdings Ltd. and AlphaCat Managers, Ltd. Validus
Reinsurance, Ltd. (“Validus Re”) is a Bermuda based reinsurer focused on short
tail lines of reinsurance. Talbot Holdings Ltd. (“Talbot”) is the Bermuda
parent of the specialty insurance group primarily operating within the Lloyd's
insurance market through Syndicate 1183. AlphaCat Managers, Ltd. (“AlphaCat”)
is a Bermuda based investment adviser, managing third-party capital in
insurance linked securities and other investments in the property catastrophe
reinsurance space.

Cautionary Note Regarding Forward-Looking Statements

This press release may include forward-looking statements, both with respect
to us and our industry, that reflect our current views with respect to future
events and financial performance. Statements that include the words “expect,”
“intend,” “plan,” “believe,” “project,” “anticipate,” “will,” “may,” “could”
and similar statements of a future or forward-looking nature identify
forward-looking statements. All forward-looking statements address matters
that involve risks and uncertainties. Accordingly, there are or will be
important factors that could cause actual results to differ materially from
those indicated in such statements and, therefore, you should not place undue
reliance on any such statements. We believe that these factors include, but
are not limited to, the following: 1) unpredictability and severity of
catastrophic events; 2) rating agency actions; 3) adequacy of Validus’ risk
management and loss limitation methods; 4) cyclicality of demand and pricing
in the insurance and reinsurance markets; 5) statutory or regulatory
developments including tax policy, reinsurance and other regulatory matters;
6) Validus’ ability to implement its business strategy during “soft” as well
as “hard” markets; 7) adequacy of Validus’ loss reserves; 8) continued
availability of capital and financing; 9) retention of key personnel; 10)
competition; 11) potential loss of business from one or more major insurance
or reinsurance brokers; 12) Validus’ ability to implement, successfully and on
a timely basis, complex infrastructure, distribution capabilities, systems,
procedures and internal controls, and to develop accurate actuarial data to
support the business and regulatory and reporting requirements; 13) general
economic and market conditions (including inflation, volatility in the credit
and capital markets, interest rates and foreign currency exchange rates); 14)
the integration of businesses Validus may acquire or new business ventures
Validus may start; 15) the effect on Validus’ investment portfolios of
changing financial market conditions including inflation, interest rates,
liquidity and other factors; 16) acts of terrorism or outbreak of war; and 17)
availability of reinsurance and retrocessional coverage, as well as
management’s response to any of the aforementioned factors.

The foregoing review of important factors should not be construed as
exhaustive and should be read in conjunction with the other cautionary
statements that are included herein and elsewhere, including the risk factors
included in Validus’ most recent reports on Form 10-K and Form 10-Q and other
documents on file with the Securities and Exchange Commission. Any
forward-looking statements made in this press release are qualified by these
cautionary statements, and there can be no assurance that the actual results
or developments anticipated by Validus will be realized or, even if
substantially realized, that they will have the expected consequences to, or
effects on, Validus or its business or operations. Validus undertakes no
obligation to update publicly or revise any forward-looking statement, whether
as a result of new information, future developments or otherwise.

Contact:

Investors:
Validus Holdings, Ltd.
Jon Levenson, Executive Vice President, +1-441-278-9000
or
Media:
Brunswick Group
Greg Faje / Beau Allen, +1-212-333-3810
 
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